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Hamburg Sud finalises sale of bulk shipping operations to China Navigation

HAMBURG Sud, a subsidiary of AP Moller-Maersk, announced that it has completed the sale of its dry bulk shipping company to China Navigation Company (CNCo), a subsidiary of the Swire Group

Hamburg Sud finalises sale of bulk shipping operations to China Navigation

HAMBURG Sud, a subsidiary of AP Moller-Maersk, announced that it has completed the sale of its dry bulk shipping company to China Navigation Company (CNCo), a subsidiary of the Swire Group

03 April 2019 - 19:00

HAMBURG Sud, a subsidiary of AP Moller-Maersk, announced that it has completed the sale of its dry bulk shipping company to China Navigation Company (CNCo), a subsidiary of the Swire Group.

The sale includes Hamburg Sud subsidiaries Rudolf A Oetker (RAO) and the bulk activities in Furness Withy (London and Melbourne) and Alianca Navegacao e Logistica, to CNCo after receiving regulatory approval. Together they operate approximately 45 chartered ships.



Hamburg Sud said it will focus on the container business, though it also said the RAO Tankers business unit is not included in the agreement and will remain part of the company.



Hamburg Sud was acquired by AP Moller-Maersk in 2017, reports American Shipper.


WORLD SHIPPING

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